(UFO) Procure Space - Ratings and Ratios

The Procure Space ETF (NASDAQ:UFO) is a non-diversified fund that primarily invests in companies generating at least 50% of their revenue or profit from space-related activities. Under normal circumstances, the fund allocates at least 80% of its net assets to such companies, which are part of its underlying index. This index serves as a global equity benchmark, focusing on firms engaged in space-related businesses, such as those involved in satellite technology, manufacturing, launch services, or ground equipment. The funds non-diversified nature allows it to hold a more concentrated portfolio compared to diversified funds.

Ticker Symbol: UFO Exchange: NASDAQ Type: etf Country Origin: USA ETF Category: Industrials

Based on the provided data, the funds technical indicators show that the 20-day SMA (24.53) is slightly above the 50-day SMA (24.02), indicating short-term strength relative to its recent price action. The 200-day SMA (19.80) is significantly lower, suggesting a longer-term upward trend. The Average True Range (ATR) of 0.81 reflects moderate volatility. The funds assets under management (AUM) stand at $68.44 million, indicating a modestly sized ETF. The last price of $24.15 and average volume of 125,948 shares suggest moderate trading activity.

3-Month Forecast:

Over the next three months, the fund is expected to experience a period of consolidation, with potential upward momentum driven by increasing investor interest in space-related technologies. The 20-day SMA crossing above the 50-day SMA suggests short-term bullish sentiment. However, the relatively low ATR of 0.81 indicates that volatility may remain subdued, with price movements likely to stay within a narrow range. Fundamentally, the funds AUM growth could signal improving investor sentiment toward space-related investments, potentially leading to further inflows and upward pressure on prices. Technical support is expected near the 200-day SMA of 19.80, while resistance may be encountered around the recent highs near 25.00. Overall, the outlook leans slightly bullish, with a target range of $23.50 to $25.50 over the next quarter.